October 24, 2016 Dubai, UAE: Leading Smart City expert, NXN Group has announced its next evolution of Smart City services with the launch of Blockchain solutions in partnership with bespoke Blockchain technology solution provider, Chainvine.
NXN Group has been active in several ground breaking smart city engagements in the MENA region, including Smart Dubai and Smart Riyadh. Blockchain technology ultimately provides a secure environment for the digital economy and the Group has identified several areas of digital evolution that will be empowered with this technology. These include enhancements to governance, contracts, payments, supply chain, and device management.
UK based Chainvine was chosen because of its expertise and innovation in Blockchain technology. It brings expertise to Smart City solutions thought its extensive experience in distributed economies, cryptography and electronic payments. Over the last two years, Chainvine has developed the effective mix of Blockchain technologies, cryptography and use case expertise that aligns with smart city needs. The resulting platform has three Blockchain enabled components, the Chainvine Identity Manager (CIM), the Chainvine Asset Manager (CAM) and the Chainvine Encryption Manager (CEM).
The partners will innovate further by leveraging NXN’s managed services and three smart city in-country clouds. The ability to create both local Blockchain networks in the UAE, Kuwait and Saudi Arabia, as well as nodes of global networks for MENA customers, will enable NXN and Chainvine to deliver locally optimized solutions to government and real estate development customers.
NXN and Chainvine will provide solution offerings to multiple smart city verticals. These will include the capability to audit internet of things devices, enable digital economic transactions, intellectual property protection, vertical specific distributed ledgers and identification.
Commenting on the partnership, NXN Group CEO Ghazi Atallah said,
“We believe that Chainvine is the right fit for our ambition to evolve smart cities through the power of the Blockchain. NXN Group has always been at the cutting edge of Smart City transformation and we believe that Blockchain is a technology that will revolutionize digital transformation and empower and enable the ecosystem.“
Meanwhile Chainvine COO and Co-Founder Andreas Tsindos added
“Chainvine is very pleased to be partnering with Smart City leader NXN in the MENA region. The partnership allows us to leverage the power of our innovative Blockchain technology and to contribute to NXN’s ground breaking smart city solutions. The region is fast becoming a powerhouse in digital transformation and Chainvine to join NXN and play a part in this.“
About NXN Group
NXN, is a thought leader in the domains of smart cities and next generation technology innovation. NXN leverages on its unique combination of regional insight and global outlook and unparalleled experience to consult, build and manage digital transformation services. Further enabled though its partnership with Zain group, NXN is the trusted advisor and managed service provider to some of the most forward-thinking governments and enterprises worldwide
Chainvine is a Blockchain technology solution and service provider based in the United Kingdom. Chainvine’s vision and approach is to change the way private and public enterprises do business, to show the value in trusted decentralized platforms through the use of the Blockchain
The company has developed a unique set of enablers for the use of the Blockchain and Blockchain based technologies, it is engaging with both the public and private sector.